|Market Close||Market Close|
|Gas prices stabilised during Wednesday’s session, showing only small fluctuations in either direction before settling around their opening price by the end of the day. A bearish turn on oil markets helped to weigh on prices, while the supply/ demand picture was little changed.||A further decrease in wind generation was forecast for today which offered support to the prompt. The rest of the near-curve continued to weaken, helped by a mild weather outlook. Meanwhile, far-curve prices were pressured down by falling oil and a drop in carbon.|
|Market Open||Market Open|
|The UK gas system is slightly undersupplied due to a minor outage in Norway which has reduced flows. However, prices have moved down despite tighter supply, with weaker oil pressuring down global energy markets.||Power prices are generally unchanged this morning as any movement is very minor. Gas and coal markets have moved down, while carbon and oil prices have climbed slightly higher following yesterday’s lows, offering mixed sentiment.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display strong losses following a de-escalation in tensions between the US and Iran. It is now thought that the US may place sanctions on Iran instead of military action; Brent currently trades around $65.4/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved higher, while commercial electricity decreased slightly – closing at 36.48ppt and £43.63/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge
If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.